In the context of Business Analysis, requirements should be initially prioritized based on the business benefits they are expected to deliver. This approach aligns with the principle of delivering the most value to the organization and ensuring that the most impactful requirements are addressed first. Prioritizing by business benefits helps in focusing on what is most important for achieving business objectives and delivering value to stakeholders.
References: The prioritization of requirements is a critical step in the requirements life cycle management, as outlined in the BABOK Guide. While the guide itself is not publicly accessible without membership, it is widely recognized that business benefits are a key factor in prioritization. This is supported by various resources and articles that discuss prioritization methods within the domain of Business Analysis.